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by mikeryan
1737 days ago
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There’s a third reason here. With the current size of a round a founder can become very wealthy by converting personal shares (ie cashing out) in each round. They can literally get F-you money regardless of the company’s outcome. Look at Clubhouse. It reached Unicorn status while still at, essentially, Alpha. It would be silly for the founders not to take $20M home during those rounds right? |
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